In brief
- Singapore now requires all crypto firms to hold licenses, even those serving only foreign clients.
- Bitget and Bybit are among major players reportedly exploring moves to Dubai or Hong Kong.
- The move shows Singapore’s push for stricter “substance-based” oversight as global rules tighten, experts say.
Singapore’s crypto licensing deadline arrived today, forcing dozens of digital asset firms to either shut down or face steep penalties, as regulators closed a long-standing loophole that allowed overseas-only services to operate without oversight.
The Monetary Authority of Singapore (MAS) set June 30 as the hard cutoff for compliance: no extensions, no grace period.
Firms offering crypto and digital asset services to foreign clients…
Jun 30 2025
